Building Details

Building Size 6,616 SF

Year Built 2025

Buildings 1

Stories 3

Construction brick

Abandoned No

Listing Agency: t***@tracihunter.com Show Phone

Listed By: Traci Hunter Show Phone

Source: Cbcworldwide

Added: Aug 2 Changed: Aug 3 Last Checked: Aug 6 at 3:25AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Traci Hunter

Investment Insights

Based on property information with market context.

This 6,616-square-foot flex property combines a completed exterior with an unfinished interior that can be configured for a range of commercial applications. The all-brick facade, parking lot, sidewalks, landscaping, and irrigation system are in place. Inside, the building includes three levels of office or storage area, framed rooms, rough electrical work, and plumbing positioned for four bathrooms—three on the first floor and one upstairs.

Four oversized glass garage doors expand the property's functional range. Three measure 16 feet in height, while the fourth is approximately 8 feet tall; the garage bays provide 20-foot ceilings. The property carries Commercial General zoning and fronts Shelbyville Rd in Simpsonville, Kentucky. Construction was completed in 2025, with the remaining interior work allowing a future owner to finish the building around specific operational requirements. Additional land is available.

Key Highlights

• 6,616 sq ft under roof with a partially finished interior
• Commercial General zoning on Shelbyville Rd in Simpsonville
• Four oversized glass garage doors; three are 16 ft tall and one is approx. 8 ft tall

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$81,540

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

5.53%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$1,630,800 $1.6M

Cap Rate 7%

$1,164,857 $1.2M

Cap Rate 9%

$906,000 $906.0K

Market Conditions

NOI Build-Up for 6,616 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$132.6K $20.04/SF

− Vacancy

−$23.9K −$3.61/SF

EGI

$108.7K $16.43/SF

− OpEx

−$27.2K −$4.11/SF

NOI

$81.5K $12.32/SF

Area

Shelby County, KY

Vacancy

18.00%

Lease Rate

$20.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$1,630,800

Cap Rate 7%

$1,164,857

Cap Rate 9%

$906,000

Alternative Uses

Best Use

Office B

$1.16M

$1.02M – $1.36M (±1% cap)

NOI $81,540 @ 7.0% cap · market cap 5.53%

Second Best

Retail

$944.4K

$826.3K – $1.10M (±1% cap)

NOI $66,106 @ 7.0% cap · market cap 4.48%

Theoretical Best

Office A

$1.39M

$1.22M – $1.63M (±1% cap)

NOI $97,633 @ 7.0% cap · market cap 6.62%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Highlands Concrete And Construction ... Construction Company Highlands Realty LLC Construction Company

Suggested Use

Top Pick Real Estate Agency Building Supply Restaurant Spa & Massage Center Auto Parts Store Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

20 ft

Clear height

4

Drive-in doors

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

17

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 40067, KY

5,461

Population

2,500

Households

2.2

Avg Household Size

42

Median Age

38%

College-Educated

94%

High-School Grad

43.5 sq mi

ZIP Area

126

Density / Sq Mi

$93,899

Median Household Income

$51,016

Median Earnings

$813

Median Rent

$336,100

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Partially finished commercial space offers customization for office, showroom, retail, auto, or storage operations.

Where is this flex space located?

The property is located at 7301 Shelbyville Rd Simpsonville, KY.

What is the asking price?

The asking price for this property is $1,475,000.

What are key features of this property?

This property features: 6,616 sq ft under roof with a partially finished interior; Commercial General zoning on Shelbyville Rd in Simpsonville; Four oversized glass garage doors; three are 16 ft tall and one is approx. 8 ft tall